GSA manages a lease portfolio of over 8,500 leases in more than 7,100 buildings. That includes almost 195 million rentable square feet and $5.7 billion in annual rent. In FY 2014 alone, GSA executed 807 leases, including 167 renewals, for almost $486 million in annual rent. By negotiating leases at rates lower than market rates for these new procurements, the Office of Leasing was able to provide $18.5 million in annual rent savings for our partner agencies in FY 2014.
The Office of Leasing is continuously seeking ways to build a stronger GSA and to improve our processes to better serve our leasing partners, including small business entrepreneurs. In FY 2014, GSA implemented three particularly successful leasing initiatives:
The Subject Matter To You ( SME2U) Learning Series had offered courses on lease process and related subjects throughout the country. The courses were attended by over 7,600 GSA associates, industry broker partners, and delegated customers. As a result of these classes, communication with our partners improved, the skill sets of the workforce were enhanced, and GSA realized an estimated training cost avoidance of approximately $1.6 million.
The Automated Advanced Acquisition Program (AAAP) was offered nationwide for the first time in 2014. The AAAP is an electronic leasing process that allows the real estate market to submit online offers of available properties for GSA consideration.
The GSA Real Estate Exchange is a new software application for real estate acquisition. It guides the user through the lease process through task assignments, and reduces data entry by pre-filling documents and performing financial calculations. Reporting dashboards contained in this program provide the leasing community with a snapshot of leasing projects and their progress at a glance.
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